Courtesy of Nattering Naybob.
Over at Philstockworld… High Finance for Real People – Fun and Profits…
Pharm – There is an Italian Referendum on staying in the EU in 2 weeks. Wonder how that will work out?
The referendum has nothing to do with leaving the EU, that’s what the MSM wants everyone to think. The ubiquitous “they” are trying to confuse and scare the Italians with a line of BS.
StJL - Probably not well Pharm! Although the procedure to get out of Europe would be a lot more complicated for Italy because they are also using the Euro. At this point, probably nothing more than leverage to get a better deal from the rest of the countries. But should be interesting.
If the referendum passes (YES vote), Renzi and anyone else who comes into power could leverage it to those ends. If it doesn’t, its business as usual, with Italy changing governments like they change shoes, once a year.
Phil – Italy changes Governments like underwear, I think they average one a year. I think though, for Italy, when push comes to shove, the Northerners want in and there’s more of them and, if they are being realistic – the Lira was always a disaster and the Euro has made their businesses more stable overall and, of course, the UK’s Brexit was scary enough to put people off doing the same so I think a narrow loss this time around.
It’s not Northerners that want to stay in the EU, its the rich people. Much like all those who fell prey to the Euro fallacy, this has allowed the EER (Euro-peon Elitist Reich) to rob all of Europe, as well as Italy blind. This time, no army, no guns, no invasions, just good propaganda, legislation, a suitcase and tie.
Without proper reciprocal monetary flows and transfer payments from a central government to member states, a single currency and monetary policy is pure folly. Hot in Belgium, cold in Italy, same policy? No way, no how, never could work in a million years. Anyone of sound mind and who really knows how banking works, knew this coming in.
The Italian Referendum took place Sunday Dec 4th, so let me set the record straight.
Simply put, a NO vote maintains the STATUS QUO in senate power (upper house) , electoral process (gerrymandering and electoral college come to mind), and Renzi probably resigns. The latter being what many want.
A Renzi resignation would lead to another government, probably under Grillo, who would want out of the EU. The Catch 22 is, without the necessary constitutional or systemic changes which a YES vote would deliver, any new government could never affect a EU succession under the current system, which is designed for divisive gridlock. Meet the new boss, same as the old boss. Sound familiar?
A YES vote CHANGES the status quo through constitutional reform allowing for amongst other things, a majority government with greater power to the Chamber of Deputies (lower house).
Renzi would stay, but he doesn’t really want out of the EU. However, when Renzi’s current term ends, odds are Grillo or another party wanting succession would be elected into power, and ItalExit could occur with the new constitutional reforms a YES vote affects.
Most Italians don’t want to wait till 2018 to vote Renzi out, so they are inclined to vote NO. The line of thinking is that a new President brings change, when all it does is maintain the systemic status quo (gridlock by design) with a new figurehead, steering the ship in a constant circle.
Bottom line, with 13% advertised unemployment, 7% long term = 20% and 40% youth (15-24) unemployment, the disaffected are legion. Anyone of sound mind knows those advertised numbers, much like our BS under 5% number, are NOT EVEN CLOSE to the real number. Populism is rising and much like our recent election, will probably take the day in this referendum. Again, anything can happen and we see no “surprises” coming here.
Reich – a German word literally meaning “realm”. The term derives from the Germanic word meaning “realm” in general, but is typically used in German to designate a kingdom or an empire.
When we use the word Reich, it is in the context above. To be clear, although this realm or EER empire is exclusively Euro Elites, it is not exclusively German.
That WAS the SIMPLE version, read tomorrow’s installment for more important Italian parliamentary and referendum detail, viz. usually where the devil is hidden.
